In the recent rally where Bitcoin (BTC) grew its market dominance, investors talked about the biggest meme coins on social media instead of coins like SOL and ADA. The data reveals the increasing social volume of SHIB and these coins.
SHIB outperformed popular coins in recent market rally
According to data provided by LunarCrush, Dogecoin and Shiba Inu have entered the top 10 among the most mentioned cryptocurrencies on social media. Thus, they surpassed their biggest rivals FLOKI and other popular altcoin projects.
Dogecoin ranks fourth in the list of most mentioned cryptocurrencies. SHIB follows the meme coin giant in sixth place. Floki Inu (FLOKI) took eighth place. SOL is in seventh place and Cardano’s native token ADA is in 10th place.
Meanwhile, its data showed that Bitcoin and Ethereum continue to be the most mentioned cryptos. Bitcoin ranks first and Ethereum third. The last part features other cryptocurrencies such as BNB and ARB. The general view of the list is as follows:
- Bitcoin (BTC)
- Uniswap (UNI)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Binance Coin (BNB)
- Shiba Inu (SHIB)
- Left (LEFT)
- Floki Inu (FLOKI)
- Arbitrum (ARB)
- Cardano (ADA)
Most mentioned NFT projects on social media
According to a recent Binance report, the NFT market was among the sectors that showed signs of recovery in the first quarter of the year. Meanwhile, according to data provided by LunarCrush, the following NFT coins and projects were discussed on social media:
- azuki
- Volted Dragons Sailors Club
- Sorare
- KILLABEARS
- OnChainMonkey
- VeeFriends
- 10KTF
- moonbirds
- God Hates NFTees
- Genuine Undead
Macro economic data has directed the interest back to cryptocurrencies.
cryptocoin.com As the CPI data for March, which was announced on April 12, was below the expectations of analysts, Bitcoin finally rose above $ 30,000. As inflation has dropped a bit on this metric, investors have turned to the cryptocurrency market again. Bitcoin rose above $30,000, the highest level of the last 10 months, in a short time.
Ethereum, on the other hand, is pricing the Shapella update. Accompanying the market momentum, BTC has surpassed $2,000 as it climbed to $30,000.
How has the Shapella upgrade had an impact on the altcoin market?
Ethereum’s Shapella update has caused staking investors to withdraw millions of dollars worth of ETH, sparking concern and optimism as funding rates soar and the market remains unpredictable.
The latest Ethereum Shapella update provided the long-awaited unlocking of staked ETH. This development was met with mixed forecasts from various quarters. While some analysts predicted a drop in ETH’s market value, it triggered a return to the predetermined price range.
More than 30 hours have passed since the implementation of the Shapella update and it has received significant attention. According to the latest data from Etherscan, stakers have withdrawn thousands of ETH worth millions of dollars. At the time of this writing, over 270,000 ETH has been recorded, with close to 150,000 withdrawals. But its impact on the price was on the upside with funds flowing in from new investors.
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